Zachary Kirkhorn, Tesla's chief financial officer, confirmed that 10 percent of the company's Bitcoin assets had been sold during an earnings call on Monday, according to NPR.
"Elon and I were looking for a place to store cash that wasn't being immediately used, trying to get some level of return on this, but also preserve liquidity," Kirkhorn said."Bitcoin seemed at the time, and so far has proven to be, a good decision—a good place to place some of our cash that's not immediately being used."
The values of Bitcoin and the cryptocurrency Dogecoin, which was originally created as a parody of cryptocurrencies, have risen significantly following frequent and enthusiastic tweets from Musk. In addition to announcing a massive investment in Bitcoin, Tesla this year also began to allow customers to purchase their vehicles using the cryptocurrency.Tesla CEO Elon Musk poses at an event in Berlin, Germany on December 1, 2020.
Both are douches. Don’t care
'Portnoy's Complaint.'
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